Multinational, money-losing, government-subsidized, unmanageable Citigroup, having divested already of Robert Rubin and other high-paid remnants of founder Sandy Weill's heyday, will split into two companies:

1) Citicorp, a $1.1 trillion "global bank to businesses and consumers", funded by old-fashioned bank deposits. Includes corporate and investment banking, special services for billionaires, credit cards, branches, business loans, and Global Transaction Services, a fast-growing tech unit. The old Citibank, as if Weill's Travelers had never taken it over.